You Get what you pay for !!!

Originally Posted By: phughes
This post was automatically imported from our archived forum.



I ran across this article that discusses what happens and what is perceived when you under price yourself. See if you find any parallels to our business ( by the way I can’t spell to awfully good.


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The Perils of a Low Fee

The most obvious peril of a low fee is insufficient income, but there are others.

Charging a low fee - possibly because you think students will be unable to pay you more - typecasts you as a cheap teacher. An unspoken assumption among buyers is that you are not a very good teacher because if you were better you'd be more expensive! As a low-fee teacher, generally you will tend to draw from the pool of students who consider music instruction as a short-term activity and who consider what they pay you as money given for a one-time service rendered (like baby-sitting or a haircut). This kind of family tends to be cavalier about lesson attendance, cancellation, timely payment, and continuation in lessons.

A low fee announces to everyone that -you- don't think you're a very good teacher! Consequently, people looking for top-notch music instruction aren't going to consider you because if you were good, you would be commanding more money.

Once you're there, you'll have a very hard time climbing out of the "low-end" market niche.

You don't feel good about a low fee, either. Inadequate compensation is demoralizing.

Charging a more reasonable fee gives you much more flexibility, not only financially but in regard to the quality of students who consider you and from whom you have to choose.

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By the way, this is from a piano teacher. (my wife is a piano teacher and she gets the credit for finding this.... Thanks baby ...


Originally Posted By: jmyers
This post was automatically imported from our archived forum.



Peter,


Very, very, very well said! My hats off to the piano teacher! ![icon_biggrin.gif](upload://iKNGSw3qcRIEmXySa8gItY6Gczg.gif)

Joe Myers